A family-run hotel in South Kensington has secured a loan to fund an expansion plan which will see give new bedrooms created.
The Jade Hotel in London is owned by the Khalid family who have negotiated a deal with OakNorth Bank to secure a cash injection for the renovation project, which will also see its 30 bedrooms given a refresh and repairs made to the roof and front exterior.
The hotel has been in operation since 1984 and the Khalid converted it from a five-storey terraced house into a 30-bedroom hotel in 2011.
Khalida Khalid, Owner of The Jade Hotel, said: “This capital gives us the opportunity to conduct renovations and ensure we can host additional guests once international travel reopens. Deepesh and the rest of the team at OakNorth Bank clearly know the hotel sector well and were incredibly transparent throughout the entire borrowing process.”